GHCLChemicals

GHCL Limited

Commodity Chemicals · ISIN INE539A01019 · BSE 500171 · NSE EQ · FV ₹10
Last price
₹420
+0.30%today
What this company does

GHCL Limited operates in Commodity Chemicals, part of the Chemicals sector. It booked ₹791 cr of revenue in its latest quarter (Q4 FY26) and kept 14.6% of sales as profit. It is the 6th largest of 9 Commodity Chemicals companies we track, by market value.

GHCL is one of the India’s leading producers and has an renewable sources to drive sustainable manufacturing.
In the report:
68out of 100
Equitytale Health Score
Solid

Healthier than 68% of companies in Chemicals, on all six measures of filed financials. Each measure is ranked against the 10–44 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
34

At close. Not part of the score.

Profitability & returns51

How much profit it earns on the money it employs

Balance sheet86

How much it owes, and whether earnings cover the interest

Cash quality84

Whether reported profit actually arrives as cash

Growth & consistency23

Whether sales and profit have grown, and how steadily

Valuation100

What today's price implies, against our models or its peers · highest in its sector on what we could measure

Governance & risk72

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
Makes a profit
No promoter shares pledged
Virtually debt-free
Turns profit into real cash
Watch-outs
! Profit down 23% vs last year

What if I invest in GHCL?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 0% a year, it would become
₹12.00 lakh

The slider starts at 0%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹420 +0.30%
latest close · 2026-09-17
1-year return
+19.5%
52-wk low ₹34452-wk high ₹687
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio8.6Low
LowAverageHigh
P/B ratio1.09Moderate
Below bookModerateHigh
EV / EBITDA5.1Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity13.0%Fair
WeakFairStrong ▸15%
Return on capital16.8%Strong
WeakFairStrong
Net margin14.6%Decent
ThinDecentStrong
EBITDA margin23.9%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.02Comfortable
LowModerateHigh ▸1
Interest cover86.5×Strong
RiskyOkayStrong ▸5×
Current ratio4.38Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹3,862 cr
Book value
₹386
EPS
₹12.28
latest quarter
Net debt
₹18 cr
owes more than its cash
Enterprise value
₹3,880 cr
EBITDA
₹757 cr
annualised
EBIT
₹647 cr
annualised
Operating margin
20.5%
Return on assets
10.8%
Earnings yield
11.69%
P/S
1.22
Sales / share
₹344.0
Tax rate
27.7%
Face value
₹10
Shares
9.2 cr
Working capital
₹1,483 cr
Current assets
₹1,921 cr
Current liabilities
₹438 cr
Delivery %
62.0%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Looks underpricedMedium confidence
Median of 3 models ₹590 vs market price ₹420 — price is 29% below it
Safety cushion+28.9%(target ≥ +20%)
Models span ₹336₹860, midpoint ₹590
Model ₹590
Price ₹420
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q4 FY26 (consolidated)
Revenue from Operations₹791 cr
Other Income₹14 cr
Total Income₹804 cr
Cost of Materials₹227 cr
Purchases of Stock-in-Trade₹52 cr
Inventory Change (±)₹12 cr
Employee Benefit Expense₹28 cr
Finance Costs₹2 cr
Depreciation & Amortisation₹27 cr
Other Expenses₹296 cr
Total Expenses₹644 cr
Profit before Tax₹160 cr
Tax Expense₹44 cr
Net Profit₹116 cr
Net margin on total income14.4%
Where the money goes · Q4 FY26
% of total income
Materials + stock-in-trade₹291 cr36.2%
Employee benefit expense₹28 cr3.4%
Finance costs₹2 cr0.2%
Depreciation & amortisation₹27 cr3.4%
Other expenses₹296 cr36.8%
Tax expense₹44 cr5.5%
Profit for the period₹116 cr14.4%
Total income ₹804 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ2 FY26Q3 FY26Q4 FY26
Revenue721 cr757 cr791 cr
Total income738 cr773 cr804 cr
Expenses594 cr629 cr644 cr
Profit before tax145 cr143 cr160 cr
Tax38 cr37 cr44 cr
Net profit (owners' share)107 cr106 cr116 cr
Net margin (owners' share, on revenue)14.8%14.0%14.6%
EPS (₹)11.1611.2612.28
YoY (latest quarter): total income -0.1% · net profit -23.0%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹4,300 cr
Shareholder equity
₹3,552 cr
parent shareholders
Total debt
₹62 cr
Cash
₹44 cr
Cash flow · H1 FY26
Operating
₹323 cr
Investing
₹-235 cr
Financing
₹-130 cr
Peer comparison
Commodity Chemicals · by market value
CompanyPriceMarket capP/E
SRF Limited₹2,536₹75,172 cr24.8
Tata Chemicals Limited₹779₹69,788 cr
Deepak Fertilizers and Petrochemicals Corporation Limited₹1,325₹16,722 cr8.5
Gujarat Narmada Valley Fertilizers and Chemicals Limited₹585₹8,597 cr6.9
Gujarat Alkalies and Chemicals Limited₹674₹4,948 cr22.5
GHCL Limitedthis company₹420₹3,862 cr8.6
J.G.Chemicals Limited₹588₹2,305 cr23.0
Thirumalai Chemicals Limited₹156₹1,876 cr
IG Petrochemicals Limited₹555₹1,708 cr6.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
2.86%
trailing 12 months
Dividend / share (TTM)
₹12
Last dividend
₹12
ex 18 Jun 2026
ActionDetailEx-date
Dividend₹12 / share18 Jun 2026
BuybackBuy Back14 Nov 2025
Dividend₹12 / share17 Jul 2025
Dividend₹12 / share1 Jul 2024
Dividend₹17.5 / share23 Jun 2023
Dividend₹10 / share22 Jun 2022
Who owns it · 2026-06-30
No pledge
Promoter
19.8%
FII / Foreign
22.4%
DII / Domestic
11.2%
Retail / others
46.5%
Promoter stake up 0.8% over the last 12 quarters.
Smart-money activity
Insider trades
SoldRavi shanker Jalan · Director50,000 · ₹2.2 cr5 Aug 26
BoughtManoj Kumar Ishwar · Employees/Designated Employees400 · ₹1.7 L30 Mar 26
BoughtNeelabh Dalmia · Promoters1,400 · ₹6.3 L25 Mar 26
Bulk / block deals
short · NSE19113 Aug 26
short · NSE213 Feb 26
short · NSE1143 Dec 25
Stake changes
BoughtNeelabh Dalmia · promoter→ 0.14% · 1,40016 Jun 26
BoughtNeelabh Dalmia · promoter→ 0.14% · 1,40025 Mar 26
BoughtHindustan Commercial Company Limited · promoter→ 3.24% · 19,50013 Mar 26
Promoter pledges
InvokedShri Vinod Kumar Bindal4.00 L · 0.41% held17 Dec 19
PledgedShri Vinod kumar Bindal4.00 L · 0.00% held23 Jul 19
ReleasedIndiabulls Financial Services Ltd(IFSL)4.25 L · 0.42% held4 Feb 16
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 24 Jul 2025
See the official result
1
1 - Adoption of audited standalone financial statements of the Company for the financial year ended March 31, 2025, and the reports of the Board of Directors and auditor thereon.
Backed by 100% of shareholders other than promotersneeded 50%
4.43 cr votes for, 1.31 L against · 0% of mutual funds and other big investors said no
2
2 - Adoption of audited consolidated financial statements of the Company for the financial year ended March 31, 2025, and the report of the Auditor thereon.
Backed by 100% of shareholders other than promotersneeded 50%
4.44 cr votes for, 14,523 against · 0% of mutual funds and other big investors said no
3
3 - Declaration of Dividend for the financial year ended on March 31, 2025, on equity shares of the Company.
Backed by 100% of shareholders other than promotersneeded 50%
4.48 cr votes for, 1,851 against · 0% of mutual funds and other big investors said no
4
4 - Reappointment of Mr. Ravi Shanker Jalan as a Director of the Company, liable to retire by rotation
Backed by 98% of shareholders other than promotersneeded 50%
4.41 cr votes for, 7.09 L against · 2% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 37 named members
owning 19.8% between them · as of 2026-06-30
Hindustan Commercial Company Limited3.23%
Gems Commercial Company Limited3.19%
Banjax Limited3.03%
Hexabond Limited2.95%
Oval Investment Private Limited2.81%
Lhonak Enternational Private Limited1.48%
Anurag Dalmia (HUF)0.64%
Carissa Investment Private Limited0.52%
Business done with them
FY2026 · 2 of the group
The company paid ₹4 cr to companies in the promoter group last year — about 0.1% of its ₹3,064 cr revenue.
Mr. Neelabh Dalmia
Other payments to them · Sitting Fees and Commission
also owns 0.14% of the company
₹3 cr
company paid
Mr. Anurag Dalmia
Other payments to them · Sitting Fees and Commission
also owns 0.14% of the company
₹1 cr
company paid

The company also transacted with 15 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.